Energy prices have hit an all-time high worldwide due to a post-pandemic surge in energy demand, a growing shortage of crude oil and natural gas production, and the ongoing Russian-Ukrainian conflict disrupting global supply chains amongst other factors.
The economies of the Asia-Pacific are expected to face a 27% increase in electricity bills by 2025 if the region’s composition of energy sources continues to stay stagnant. As a net exporter of energy, Malaysia has fortunately been relatively protected from market volatility.
However, this stroke of luck may not last forever. The Malaysian government has recently announced plans to gradually increase electricity tariffs for export-focused MNCs in late 2022 in response to rising energy prices.
Furthermore, local proven oil reserves are estimated to only last another 10 to 15 years at the current rate of consumption. This means that Malaysia’s safe position as a net oil exporter is likely coming to an end in the coming decades.
While households and SMEs remain largely unaffected by the global energy crisis for now, it is inevitable that Malaysians will come face-to-face with rising energy prices if the country continues to rely heavily on fossil fuels as its main source of energy.
Reduce electricity bills with GSPARX’ solar photovoltaic (PV) systems
Improvements in solar energy technology has led to its rising popularity as a premier option for those looking to reduce their monthly electricity expenditure. Modern solar panels are able to convert 20% of the sunlight they are exposed to into energy, compared to 10% decades prior. Furthermore, residential solar PV systems have seen a 39% drop in price over the last decade.
It is clear that a solar PV system has become a strong financial investment that will save a substantial amount in energy bills. As a wholly owned subsidiary of Tenaga Nasional Berhad, GSPARX has dedicated its efforts into creating solar PV system packages that reduce a household’s energy bill by 90% every single month.
How much do you actually save?
Assume that a household spends roughly RM200 a month on electricity bills. Installing a solar PV system sized for 5kW would diminish TNB bills by up to RM197, saving a total of RM2,365 every year!
The government has also set up its Net Energy Metering 3.0 programme (NEM 3.0) as an incentive for residential areas to begin adopting solar energy generation.
This scheme allows for excess energy generated to be sent back to the grid at TNB on a “one-on-one” basis to offset monthly electricity bills.
To find out more about how much you can save via solar PV systems, use the GSPARX calculator here.
A premium and convenient investment
GSPARX is dedicated to making the journey into the world of solar-powered living as smooth as possible. To this end, we provide a full end-to-end service to assist you from start to finish including pre-purchase consultation, on-site assessment and optimisation, a personalised package proposal, and the system installation.
After installation, we guarantee 25 years of optimum performance from our solar PV models, alongside 10 years of system and inverter warranty. We also provide a 2-year long maintenance and support package for your new solar panels to round out our service package.
We understand that purchasing a solar PV system can seem like a big commitment. That is why we offer multiple financing options such as a one-off cash payment, 0% interest on credit card instalments, and personal loans from a preferred bank to give our customers flexibility with their payment options.
Investing in a solar PV system today will make it easier to transition when Malaysia decides to move away from fossil fuels. For more information about GSPARX and its packages, click here.